Wallenius Wilhelmsen has just penned a game-changing multi-year shipping agreement with South Korea’s top construction machinery powerhouse. The three-year deal, with an optional two-year extension, comes with a hefty price tag of approximately USD 290 million, mirroring the anticipated shipping volumes over the agreed period. The contract officially kicked off this January, boasting rates in harmony with the prevailing market standards.
Pia Synnerman, Chief Customer Officer at Wallenius Wilhelmsen, expressed enthusiasm about the deal, stating, “This multi-year contract further strengthens our partnership with one of our key customers in the high and heavy segment, extending predictability for both the customer and Wallenius Wilhelmsen.”
A notable feature of the agreement is the incorporation of Wallenius Wilhelmsen’s Reduced Carbon Freight Service, a beacon of sustainability in the shipping realm. By leveraging B30 Biofuel, customers can expect a noteworthy reduction of approximately 20-25% in their Scope 3 CO2/GHG supply chain emissions. Synnerman emphasized the pivotal role of this service, stating, “We are witnessing a transformation in customers’ sense of urgency regarding the need to decarbonize their supply chains. Customers are partnering up with us and are increasingly committed to securing more sustainable solutions, such as biofuel.”
This strategic alliance not only underlines the commitment of both parties to long-term collaboration but also signifies a broader industry shift towards eco-friendly practices. The emphasis on reduced carbon footprint aligns with the growing global awareness of climate change and the imperative for corporations to adopt greener initiatives.
As Wallenius Wilhelmsen sets sail on this lucrative venture, the ripple effect of this deal is anticipated to be felt not only in the maritime sector but also in the broader context of sustainable business practices.
